dpd1 - 12:18 am on Jun 18, 2010 (gmt 0)
I think credit card companies, processors and banks are trying to make up the income they are losing by screwing the general public by screwing over merchants. They're using ALL the loopholes they can since the financial reform laws were passed here in the US.
I think that's absolutely true... Due to their greed and incompetence... all the cards that they have handed out to irresponsible college kids and spend-aholic house wives over the years... Those people are all bailing on them, and now they want to make the best customers with the most upstanding record, foot the bill. I just tried to get an interest rate down on something the other day, and they flat out refused. Then the guy says... Well, we're getting hit hard by defaulters. I said... So what does that have to do with me? My credit is perfect. So the defaulters walk away free and clear, and the people with the perfect credit get penalized? What's wrong with this picture?
The responsible middle income people have been getting saddled with more and more of the burden over the years... There's only so much more those people can take.